Bitcoin and Altcoins Positioned for Further Upsides

Bitcoin price recovered recently and moved above the USD 7,500 resistance.
Ethereum price gained traction and traded back above the USD 600 resistance.
Many small cap coins, including NXS, BNB, ONT and WTC gained more than 10%.


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Bitcoin found support below the USD 7,400 level and started an upward move. BTC/USD jumped above the USD 7,500 resistance to gain traction. Similarly, major altcoins recovered nicely and moved above key resistances. The best of the lot was Ethereum, breaking the USD 600 barrier. Overall, the market sentiment improved, which could lead more upsides in bitcoin and altcoins in the near term.

Bitcoin
Bitcoin price is currently trading 2.5% higher to USD 7,620 (GMT 09:30), with an immediate resistance near the USD 7,680 level. Above this, the BTC/USD pair will most likely accelerate gains towards the USD 7,800 and USD 8,000 resistance levels.
On the flip side, if the price starts a downside correction, the USD 7,500 level may act as a decent support. Below the stated USD 7,500 support, the next key support zone is near the USD 7,400 and 7,350 levels.
Ethereum
Ethereum jumped back above the USD 600 barrier, which is a positive sign. However, ETH/USD is struggling to gain upside momentum above the USD 610 and USD 620 resistance levels. Once there is a break above USD 620, the price will most likely revisit the USD 650 zone.
A bearish reaction from the current levels may perhaps push the price back in a negative zone below USD 600. The next key supports on the downside are at USD 580 and USD 575.

Bitcoin Cash and Ripple
Bitcoin cash gained bullish momentum from the USD 1,050 support area and broke the USD 1,100 barrier. BCH/USD is currently up more than 4.5% and is trading well above the USD 1,100 level. The next resistances on the upside are at USD 1,150 and USD 1,160. Supports on the downside are at USD 1,100 and USD 1,080.
Ripple price remained in a bullish zone above USD 0.65. XRP/USD is slowly grinding higher and is currently trading near the USD 0.67 level. The next major hurdle for buyers is near the USD 0.70 level.

Other Altcoins Market Today
Many small cap altcoins gained bullish traction today, including NXS, BNB, ONT, WTC, GXChain, ReddCoin, VERI and ELA. Should the current market sentiment remain intact, there could be more gains in the altcoins in the near term.
Additionally, a break above the USD 7,650 resistance may perhaps accelerate bullish moves in BTC and altcoins.



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Author: Aayush Jindal
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Bitcoin and Altcoins Rally Could Extend Further

Bitcoin price surged higher and broke the USD 7,250 and USD 7,400 resistances.
Almost all altcoins rallied, including ethereum, ripple, bitcoin cash and ADA.
BCN, THETA, 0x, MITH, Augur, ICON, Kin and GXS registered gains more than 15%.


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Yesterday, we discussed that bitcoin and altcoins are trading near crucial support levels. BTC/USD formed a key bottom above the USD 7,000 level and surged higher by more than USD 400. Similarly, other major cryptocurrencies such as Ethereum, ripple and bitcoin cash bounced back sharply and are currently trading in a bullish zone. The current market sentiment is positive, signaling more gains in the short term.

Bitcoin
Bitcoin price surged higher and broke the USD 7,250 and USD 7,400 resistance levels. BTC/USD is currently up by 5.2% to USD 7,500 (GMT 9:00 AM), with an immediate resistance at USD 7,540. Above this, the price must break the USD 7,600 barrier for more gains in the near term.
On the downside, the broken supports at USD 7,400 and USD 7,250 are likely to act as supports if the price corrects lower. Below USD 7,250, the price could move back in the bearish zone towards USD 7,000.



Ethereum
Ethereum price also formed a solid support near USD 500 and started an upward move. It traded up by more than USD 50 and tested the USD 570 resistance.
ETH/USD is currently up by 7.5% to USD 560, with an immediate resistance at USD 570. A break above this could open the doors for a push towards the all-important USD 600 resistance.

Bitcoin Cash and Ripple
Bitcoin cash moved back above the USD 1,000 level and it is currently up by 11.2%. If BCH/USD manages to hold the USD 1,000 level, there may well be more upsides towards the USD 1,050 level. On the downside, supports are at USD 960 and USD 940.
Ripple price rallied and moved above the USD 0.60 hurdle. XRP/USD is up by 9.5% to USD 0.609 and it looks set to extend the current rally towards the USD 0.62 and USD 0.65 in the near term.

Other Altcoins Market Today
Many small cap coins rallied during the past three sessions, including BCN, THETA, 0x, MITH, Augur, ICON, Kin, Golem, IOTA, Fusion and GXS. BCN performed very well and gained more than 25%.
The current price action suggests that bitcoin and many altcoins bounced back from key supports. Should BTC/USD accelerate above USD 7,550, there may perhaps be an extended rally towards USD 8,000.



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Bitcoin and Altcoins Consolidating Losses With Positive Signs

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Bitcoin formed a solid bullish candle near USD 7,250 and recovered above USD 7,400.
Ethereum moved back above the USD 600 pivot level before correcting lower.
Bitcoin Private, CyberMiles, Kin, EOS and Mixin registered gains more than 10%.
Bitcoin extended declines yesterday, but buyers were able to hold losses below USD 7,250. BTC/USD formed a short-term bottom pattern with a strong bullish candle and recovered above USD 7,400. Similarly, all major altcoins including ethereum, ripple, bitcoin cash, litecoin and Neo corrected above key resistance levels. The current price action suggests that the market was well bid near weekly lows and prices could correct further higher during the following sessions.

Bitcoin
Bitcoin price is currently down 1.3% to USD 7,410 (GMT 8:00 AM) and is holding the USD 7,250 support. The last 4-hour chart was positive, suggesting a slight recovery above USD 7,600. However, the USD 7,600 – USD 7,700 zone is a crucial barrier for buyers. A successful close above the mentioned barrier could open the doors for a test of USD 8,000.
On the downside, price must hold the USD 7,250 support. If buyers fail to defend the stated USD 7,250, there may perhaps be a strong slide towards USD 6,900 in the near term.

Ethereum
Ethereum price bounced back sharply and moved above the USD 600 level. However, ETH/USD struggled near the USD 610 – USD 615 region, and is currently down to USD 595.
It seems like the price may move back above USD 600 during the coming sessions as long as it is above USD 575. Should there be a downside break below USD 575, the price may possibly decline further towards USD 550.

Bitcoin Cash and Ripple
Bitcoin cash is showing a positive signs above USD 980. BCH/USD is currently up 2.2% to USD 1,010 and is moving with a bullish angle. On the upside, an immediate resistance is at USD 1,040, followed by USD 1,080. Supports on the downside are at USD 980 and USD 960.
Ripple managed to crawl back above USD 0.60, which is a positive sign. However, buyers need to push the price above the USD 0.62 resistance to accelerate upsides.

Other Altcoins Market Today
Many small cap altcoins gained traction today. Coins like Bitcoin Private, CyberMiles, Kin, EOS and Mixin surged higher by more than 10% to move in the green zone.
Overall, if the recent bounce in bitcoin is real and the price settles above USD 7,500, there are real chances of BTC/USD gaining bullish momentum toward USD 8,000. On the flip side, a break below USD 7,250 will most likely accelerate declines.


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Bitcoin Cash Fork Leaves Users Behind, But Does It Matter?

Bitcoin cash now has 32 MB blocks and smart contracts

The controversial hard fork of bitcoin hard forked again several days ago in an effort to add new functionality to the cryptocurrency protocol and further differentiate it from its predecessor. But in the process – executing at block 530350 – a portion of the bitcoin cash community was left behind.

At the time of writing, between 16 percent and 17 percent of bitcoin cash nodes are running old software and because of the way upgrading by hard fork works (whereby changes are not backwards compatible), those nodes are now running on a completely separate network. As such, if any user running one of those nodes were to make a transaction, the new, larger bitcoin cash network would not recognize it.

Critics of bitcoin cash argue it’s a bad sign that so many nodes haven’t upgraded, since those users are now completely cut off from the rest of the network.

Some have even gone as far as to argue the quietness around the hard fork as a sign that relatively few people care about bitcoin cash. If more people cared, they contend, the changes would see more debate, because people would be worried about the implications, Bitcoin Core contributor Kalle Alm argued on social media.

“You can tell bitcoin cash is not bitcoin by looking at how not everyone is losing their shit all over the place,” he said, adding:

“Imagine if 20 percent of bitcoin nodes failed consensus? Everyone would explode.”

But proponents of the network disagree.

“That’s a rather meaningless statistic. Likely the reason those nodes haven’t upgraded is because they aren’t in use and the owners haven’t bothered yet,” said Chris Pacia, lead developer at OB1’s Open Bazaar.

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A popular fork

Pacia pushed back on the idea the calm surrounding the hard fork means anything but that users were happy with the upgrade.

Despite a portion of users not yet upgrading their systems to go along with it, Pacia said, all miners have upgraded. And sure enough, leading up to the fork, social media comments among bitcoin cash advocates were overwhelmingly in favour of the changes.

“The network update has the full support of the community, with bitcoin cash aiming to compete with the [lightning] network of bitcoin,” said Matthew Newton, an analyst at crypto investment platform eToro, in a statement.

The statement continued:

“Increasing the block size and allowing smart contracts to be built is seen as an important step in its quest to become the dominant cryptocurrency.”

The new features look like they’re working properly so far.

Pacia was one of the first to use OP_CAT, one of the so-called smart contracts added to the protocol through the hard fork.

And other projects got a boost from the new features too. For instance, because of the bigger block size, users can now write longer messages on the bitcoin cash social media site Memo.cash.

“If this was a contentious change and those nodes didn’t upgrade because they legitimately wanted to stick with the world rules than that could be a problem. But I’m pretty sure that isn’t the case here,” Pacia added.

Reckless competition?

That said, the hard fork continues to draw mixed reception from the broader cryptocurrency community.

The hard fork that led to bitcoin cash was a controversial one and even though the two groups have went their separate ways, there is still arguments over the groups use of language and marketing.

Alm told CoinDesk he thinks it’s “insane” that bitcoin cash developers don’t care about the node statistic more and “that goes to show how little [they] care about individual sovereignty.”

“In bitcoin, the nodes are everything. They are the users of the system. To dismiss cutting off a fifth of your users in a hard fork, controversial or not, is reckless, to say the least,”

And further, many critics argue the upgrades in the latest bitcoin cash hard fork don’t have good trade-offs for the system as a whole.

For example, increasing the block size too much can decrease the likelihood that anyone can run full nodes in the future, since the storage requirements will be more than most household computers generally allow for. This is a particularly contentious point, since many cryptocurrency enthusiasts believe running a full node is the safest and most decentralized way to use the technology.

Still, bitcoin cash advocates see the effort to continue improving the cryptocurrency as a sign of necessary competition within the space.

“What events like these are also making clear, however, is the underlying sense of competition between the bitcoin cash and bitcoin communities,” Newton said. “Both are fiercely passionate about these assets and confident that one will emerge as the victor.”

He added:

“Ultimately, it remains to be seen how that will play out over the long-term, as both cryptocurrencies continue to develop.”

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Author Alyssa Hertig
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Breaking down the May 15th Bitcoin cash [BCH] hard fork

Bitcoin cash was created as an alternative that serves better than the Bitcoin network, and a hard fork helps in the creation of a new blockchain network. Every Bitcoin holder can have access to owning Bitcoin cash at extremely reasonable fees.

Several independent teams have been creating secure software applications to maintain a global decentralized development. Hence, not a single group can have control over it. Bitcoin Cash is widely popular in Asia, South Korea, and Japan.

Ryan Charles, the founder of Yours.org says:
“The most noticeable thing will be on memo.cash. It’s a decentralised twitter, so you can fit more room in between.”


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The necessary first step towards global adoption of Bitcoin cash shall take place on the 15th of May 2018. Bitcoin cash will go through a hard-fork where the block size will increase to 32MB and there will be changes pertaining to adoption of smart contracts. For better reference, we can come to an understanding of the recent surge in Bitcoin Cash’s price in mid-April which was over 100%. Basically, all the Bitcoin Cash node users are required to upgrade to Bitcoin ABC 0.17.1 or any other software that’s compatible.

Bitcoin Unlimited and Bitcoin ABC are user-friendly nodes. BCH is definitely making a comeback with the recent rise in valuation with this hard fork. This will benefit the upsurge of prices in the coming days. Bitcoin ABC is software that is used to run Bitcoin cash node that will hard fork for regular network upgrades.

New upgrades will have:
* Block size increase from 8MB to 32MB.
* The OP_RETURN data carrier size is increasing to 220 bytes. This will enable smart contracts.

Bitcoin Unlimited [BU], the full node implementation for Bitcoin and Bitcoin Cash networks plays an important role in the upcoming hard fork along with ABC developers.
Writing and operating software updates with the recent launch of Bitcoin Cash. Large transaction volumes can now be tested and experimented with. A maximum of 200 transactions is possible per second which you can adopt through the usage of the blockchain without other fundamental changes.

BCH is currently priced at $1.432 with a circulating supply of 17,128,575 with an upsurge of 3.04% in the past 24 hours.


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Author: Prerana Sarkar
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Bitcoin Voice Is Addressing Censorship in the Cryptosphere

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CryptoSlate recently spoke to Alex Pasfield, the 14-year old developer behind Bitcoin Voice, a platform that has been built for the Bitcoin Cash and Bitcoin community to vote on important issues.

The young creator believes that censorship is prevalent in the BTC community and that voting mechanisms such as Bitcoin Voice will help to prevent additional hard forks in the future.

What is Bitcoin Voice?

Bitcoin Voice is an application that shows public messages tethered to blockchain transactions that are sourced from live data. The website states that it may be utilized as a verifiable voting record of blockchain users weighted by their transaction amounts. According to Pasfield:

“Bitcoin voice gives an official, uncensorable, and verifiable voice to coin holders and allows them to be represented in community decisions, which has not been possible in the past.”

Censorship leads to Bitcoin Voice

At only 14, Alex Pasfield is an active participant in the Bitcoin Cash community. The young developer was introduced to programming and the cryptocurrency community by his father. In a recent article that was published, they discussed how Bitcoin Voice could impact the community.

Bitcoin Voice is no different although it can be used for both Bitcoin and Bitcoin Cash, the creator has strong views on which of the cryptocurrencies is the true direction of Bitcoin. When asked why he decided to focus on BCH as opposed to BTC on his twitter feed he said:

“The primary reason is that the Bitcoin Cash community has a much larger appreciation for censorship-resistant governance and voting mechanisms such as Bitcoin Voice as a result of the censorship our ideas and proposals experienced within the Bitcoin community prior to the fork.”

So, Pasfield decided to develop Bitcoin Voice after he and his friends closely observed the censorship that occurred in the /r/Bitcoin subreddit, where advocates for the increased block size were banned from the popular group.

Pasfield felt that the people who were in favor of the fork were not being heard, and whenever they voiced their opinions they were quickly shut down and banned from the group.

“This tradition of censorship of ideas within the Bitcoin community resulted in a large portion of their community not being represented in governance decisions which has resulted in Bitcoin no longer being usable for its intended application: A Peer-to-Peer Electronic Cash System.”

This is why Bitcoin Voice was created, users are literally putting their money where their mouth is. BTC and BCH users will be able to vote on important subjects using Bitcoin Voice. However, some users question this plan, believing that it will just give more power to those in the community with more money in their wallets.

 


Bitcoin vs. Bitcoin Cash

Bitcoin Cash was launched in August 2017 and has since become Bitcoin’s most popular cryptocurrency that has forked from bitcoin network. According to Pasfield:

“Bitcoin’s primary solution to scaling is the Lighting network. I do not think that the Lightning Network is a good scalability solution as it doesn’t solve the problem of how to route transactions through channels in a scalable and decentralized manner.”

The currency forked, with BCH users wanting bigger block sizes, lower fees and faster transactions. This has created heated debates on both sides of the fork, with both parties believing that their version of Bitcoin is Satoshi Nakamoto’s true vision of the decentralized cryptocurrency.

Pasfield described his thoughts on the Bitcoin Cash fork:

“I think that Bitcoin Cash’s strategy of increasing the block size will work in the mid-term but that if it is to scale to the throughput of cash, it will need to adopt other strategies for scalability.”

Parting thoughts…

According to Pasfield: “Ultimately, if any cryptocurrency is going to be able to scale to this extent, without becoming centralised to the point that it is no longer censorship resistant, it will need have a sharded network topology (one where each node only processes a fraction of all transactions).”


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Author: Aliesha Duffin
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Bitcoin Cash: What Fuels its Growth in April?

  • Bitcoin Cash has gained more than 120% since early April.
  • The upcoming hard fork likely responsible for most of the gains.

Bitcoin Cash has been getting a lot of attention again recently. The Bitcoin spin-off that came into existence as a result of a hard fork on the Bitcoin blockchain in August 2017 has now gained more than 120% since it bottomed out in early April.
When measured against the original Bitcoin, the gain has been 66% in a market where Bitcoin has also rallied strongly against the US dollar.


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Antpool Burning Bitcoin Cash
One reason behind the recent price surge in Bitcoin Cash could be a recent announcement from a mining giant Antpool. The mining pool announced in a tweet on April 20 that they would start burning 12% of the transaction fees they receive in an effort to reduce the supply, and thus boost the price, of Bitcoin Cash. Antpool has also invited other miners to start burning 12% of the transaction fees collected.

A key question for investors in this regard is how much of a reduction in supply 12% of Antpool’s transaction fees really constitutes. Some members of the crypto community have simply called it propaganda on the part of Antpool in order to artificially boost prices, while accusing Antpool of acting like a central bank that regulates money supply in pursuit of its own self-interest.

Regardless of that, however, the news has now made its way around the Internet and it may have lead to at least a perception of increased scarcity in the BCH market, which is always good for the price.

Hard Fork Effect
In addition to the announcement from Antpool, the Bitcoin Cash price has likely been benefiting from market expectations to an upcoming hard fork on the network.
The hard fork, which is scheduled for May 15, will increase Bitcoin Cash’s block size from today’s 8 megabytes to 32 megabytes, significantly increasing the number of transactions that the network can handle. However, the largest average block on the Bitcoin Cash’s blockchain in a few past weeks was only 162 kilobytes, according to bitinfocharts.com data. In comparison, it was almost 900 kilobytes in case of the Bitcoin’s blockchain.
Cryptocurrency prices have a tendency to rise in anticipation of hard forks, which is what we are seeing this time as well. When Bitcoin Cash was forked off of Bitcoin last year, Bitcoin prices rose by an average of 10% across exchanges in the two days leading up to the event.

“Potentially Overbought”
Despite these positive developments for the price of Bitcoin Cash, it is not obvious that the price will continue the strong gains from here.
Cryptocurrency veteran and Head of Research at Fundstrat Global Advisors, Tom Lee, said during an appearance on CNBC on April 25 that he would prefer to put “fresh money” into Bitcoin rather than into “something that is potentially overbought” at the moment, referring the strong gains we have seen recently in Bitcoin Cash.
Interestingly, when asked who he believes will come out as the winner in the battle between the two currencies, Lee said that he “prefers not to pick winners and losers” and that “I think both have merits.”

BCH community shifting its focus
While the original goal for the members of the Bitcoin Cash community was “the flippening,” meaning to overtake Bitcoin in terms of price, popularity, and number of users, the focus now seems to be shifting to fill another niche in the market for cryptocurrencies: Everyday payments.
Among other things, this is evident from the integration of Bitcoin Cash into the commercial payment processor BitPay’s platform, a huge step forward in achieving real user and merchant adoption of the currency.

In addition to being potentially overbought at the moment, a clearly defined objective and purpose for the digital currency, other than attempting to dethrone Bitcoin, may mean that growth in the future will become more muted, and prices less volatile, than what we have seen over the past few weeks.


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Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, IOTA, EOS: Price Analysis

Dan Morehead, CEO of cryptocurrency hedge fund Pantera Capital believes that the total cryptocurrency market capitalization can reach $40 trillion in about a decade. The current market cap is at $421 billion.
Morehead reiterated his bullish call on Bitcoin, calling it a ‘screaming buy’ at the current levels.

A similar opinion was voiced by John Pfeffer, a partner at UK-based Pfeffer Capital who recommended Bitcoin as a great investment opportunity at the Sohn investment conference in New York. According to him, Bitcoin could replace gold or become the new reserve currency of the world. This can result in its price skyrocketing to $700,000.
On the other end of the spectrum is the former head of Paypal, Bill Harris, who believes that Bitcoin is a fraud and should not be worth billions.

The bear market in cryptocurrencies has affected its trading volume. The average daily traded volumes have plunged from a high of $17 billion in December to a low of $7.4 billion in the first half of April.
This shows that the market participants have been hurt by the sharp decline in prices and many are yet to return to trading. Nevertheless, there is a hope that the entry of institutional players will make up for the loss in retail trading volume.

BTC/USD
After breaking below the trendline, Bitcoin found buying support at the 20-day EMA. If the bounce breaks out of the trendline, the bulls will make another attempt to rally to $10,000 levels. Our recommended long position is still live as the digital currency has not hit our stop loss at breakeven.

If the bears defend the trendline, the BTC/USD pair will turn down and probably break below the 20-day EMA. On any decline, the $8,000 levels will act as key support. If this breaks, a retest of the $6,800 levels is possible.
We shall get a better picture in a couple of days. Until then, hold the position with the stops at breakeven.

ETH/USD
Ethereum has held the trendline support. It is currently attempting to move up to the overhead resistance of $745.
If the bulls succeed in breaking out of the resistance, the ETH/USD pair should quickly rally to $900. If we get an opportunity, we might suggest a long position above $745.
However, if the recovery again falters close to the overhead resistance, the virtual currency can consolidate between $600-$745 for a few days. If the resolution happens to the upside, the recovery will continue, else we may see the digital currency decline to $500 levels once again.

BCH/USD
The traders are buying Bitcoin Cash close to the $1,200 mark. We currently don’t own any position in the cryptocurrency, as we have booked complete profits on all our position.

The BCH/USD pair will try to break out of $1,600 levels once again. If successful, the up move should extend to $1,800 and $2,000 levels.
If the bulls fail to scale above the overhead resistance, the cryptocurrency can become range bound between $1,200 and $1,600 for a few days.
We shall wait for a reliable buy setup to form before recommending any trade.

XRP/USD
Ripple broke below the trendline but held the 20-day EMA. It is again attempting to climb above the trendline and move towards $0.93777. If successful, the possibility of a breakout and rally to $1.08 levels increase.

The bears will offer a strong resistance at the trendline. If the XRP/USD pair fails to scale above the trendline, it will indicate a lack of buying support. Under these circumstances, the digital currency can break below the 20-day EMA and fall towards the 50-day SMA.
We don’t find a reliable buy setup on it, hence, are not recommending any long positions.


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XLM/USD

Stellar dipped back below the range on April 25 but found strong buying support at the 20-day EMA, which has again propelled it back above the overhead resistance of $0.4.

The next target on the upside is a move to $0.45 and above that to $0.47 levels. The XLM/USD pair is forming a rounding bottom pattern, which will complete on a break out above $0.48. This has a pattern target of $0.78 with minor resistance at $0.63 and $0.66.
If prices fail to breakout above the overhead resistance, we may get a small dip, forming a cup and handle formation.
As these are only possibilities, we shall wait for a clear picture to emerge before proposing any new trades.

LTC/USD
Our recommended position in Litecoin is currently in a loss. We had expected it to race higher on breaking out of $160, but after breaking out of the overhead resistance on April 24, it again slumped back.

The good thing is that the LTC/USD pair is finding buying support at the downtrend line and the moving averages are on the verge of a bullish crossover. The price is attempting to bounce off the strong support levels. If successful, a rally to $180 should be on the cards.
But if the cryptocurrency turns down and breaks below $141, it can slump to $120 levels once again. Therefore, we suggest retaining the stops at $140.

ADA/BTC
After failing to break out of the overhead resistance, Cardano pulled back to the 20-day EMA where it found support. Currently, the bulls are making another attempt to break out of 0.00003445 levels. If successful, we anticipate a rally to 0.000045 levels.

If the bears fail in their breakout attempt, the ADA/BTC pair can remain range bound between 0.000029-0.00003445 for a few days. If the range breaks down, the digital currency can slide to the 50-day SMA.
We shall wait for the breakout to sustain above the range before recommending any fresh long positions. We’ll get a clearer picture in a couple of days.

IOTA/USD
IOTA has more than doubled from the lows of $0.9150 made on April 06. This has propelled it among the top 9 currencies by market capitalization; and that’s why it has made an entry into our analysis once again.

After an extended downtrend, the IOTA/USD pair has entered a base building formation. It currently trades in a large range of $0.9150-$2.2117.
For the past few days, the bulls have been attempting to break out of the range. If successful, we might see the start of a new uptrend.
However, there is a slew of resistances at $2.62 and $3.145 from where the digital currency can turn down. We suggest waiting for a couple of days after the breakout before initiating any fresh positions.
If the breakout fails, the digital currency can fall to the 20-day EMA and below that to the 50-day SMA.

EOS/USD
EOS has extended its up move. It has broken out of the overhead resistance at $16 and is nearing the lifetime highs of $18.67 reached on January 13 of this year. We currently don’t have any positions open, as we have booked complete profits and closed our trade.

The trend is clearly up. Both moving averages have turned up, and the RSI is in the overbought territory, which shows strong demand for the EOS/USD pair.
Still, we expect the bears to offer a strong resistance again at the lifetime highs of $18.67. We need to wait for consolidation or a retrace to the $16 levels before suggesting any fresh long positions.
On the downside, the support line of the ascending channel should act as a strong support.


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Author: Rakesh Upadhyay
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Bigger Blocks and Smarter Contracts: What’s In Bitcoin Cash’s Next Fork?

Bitcoin cash’s next software upgrade may be even more ambitious than its first – and that’s no small feat given last time it broke off from bitcoin in acrimonious fashion.

In fact, the update, announced in November and slated for May 15, packages together a number of features that all seem about helping the network process more transactions than the original bitcoin (while adding more variety to features). Perhaps most notably, the change will quadruple bitcoin cash’s block size parameter from 8 MB to 32 MB, allowing for vastly more transactions per block.

But while that might sound aggressive given bitcoin’s more limited approach, those who have been following the cryptocurrency might be surprised that such an aggressive shift wasn’t pursued sooner.

After all, last fall, bitcoin cash’s developers chose to ignore the protests of bitcoin’s more seasoned developers, who had long argued that increasing the block size and moving the cryptocurrency forward too fast could jeopardize the more than $157 billion network.

But that contrarian mentality has proved, at least partially, attractive – one bitcoin cash is going for a little less than $1,500 a coin, making it’s market cap more than $24 billion.

Indeed, Joshua Yabut, who contributes to the bitcoin cash protocol’s main software implementation, BitcoinABC, said he doesn’t expect any protest at all when users are finally given the choice to upgrade software.

“Block size increases are kind of non-controversial at this point, but it’s nice to see on-chain scaling happen.”

Another area where the upcoming bitcoin cash hard fork looks to scale up is through the increase of the “OP_RETURN field,” where users can store added data on the blockchain, from 80 to 220 bytes.

It’s an easy change, but one that bitcoin cash developers say could have positive consequences, as the OP_RETURN function has been traditionally used by services that require time-stamping, asset creation, rights management and other use cases that expand the capabilities of blockchains.

Return of the smart contracts

Not only did bitcoin cash developers pack in features, but they’ve also added back some of the old capabilities that bitcoin creator Satoshi Nakamoto stripped from the protocol early on.

The most notable here is the addition of new kinds of smart contracts, or dynamic if-then programming statements that can give added functionality to how bitcoin cash tokens can pass between users.

In this case, the specific smart contracts in question were deactivated after Satoshi Nakamoto realized they could provide an attack vector, but bitcoin cash developers believe they’ve had enough time to seal up the holes.

“Essentially out of an abundance of caution and lack of time to fully explore and fix the edge cases that needed to be addressed, the decision was taken to simply disable any opcodes around which there were doubts or even hints of doubts,” said nChain developer Steve Shadders, in a blog post describing the features in bitcoin cash’s hard fork.

It’s notable that bitcoin cash is rolling these out now since bitcoin contributor Johnson Lau proposed re-adding these same smart contracts to bitcoin in February, a context that adds a bit of competition to the mix.

“Seven years have passed and the edge cases around these opcodes are much better understood now. Additionally, the decision to disable them was taken hastily and under duress,” Shadders continues in the blog post. “The [bitcoin cash] community now has had the luxury of time to address these issues thoroughly.”

Yet, since there are still potential vulnerabilities in some of the smart contracts, bitcoin cash will only be unveiling a few of them this time.

“It’s the first step for enabling smart contracts with the protocol which will allow us to compete with ethereum later on.”


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The future of bitcoin cash

But while most of the bitcoin cash community is excited about the change, there has been some pushback – or at least scepticism – from a minority of users.

Much of those concerns stem from the fact that these sweeping changes weren’t put to a community-wide vote before being coded. As such, some worry about the “governance model” of bitcoin cash, a term that denotes how developers and the miners of the cryptocurrency organize around the future upgrades.

Users, this group says, are simply not getting a chance to debate on the merits of specific changes.

Even still, the bundle of code changes doesn’t seem to be so controversial it puts bitcoin cash in any danger from something serious like the network split that created it.

All software implementations of bitcoin cash, including bitcoinABC, bitcoin unlimited and bitcoin classic, have agreed to upgrade. And there hasn’t been a huge uproar from miners, node, exchanges, wallets and other services, which will also need to upgrade to the new software to support the changes.

One of the reasons many feel good about this hard fork is that the developers decided to eliminate several features that were potentially more contentious.

For instance, OP_GROUP, a change aimed at launching features for asset creation on bitcoin cash, was thrown out when it became known that competing proposals for these features might be on the horizon. Yet, if those proposals don’t make it to the protocol relatively quickly, bitcoin cash developers don’t plan on waiting – putting the opcode up for consideration on the cryptocurrency’s next hard fork, slated for October.

Meanwhile, some bitcoin cash users wonder whether the block size parameter needs to be much (much) bigger to make room for an onslaught of data-heavy bitcoin cash projects, such as Memo, a recently launched censorship-resistant social network.

As such, bitcoin cash might continue to display ambition that can’t be slowed down.


 

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author Alyssa Hertig

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Top 10 Coins in 2020..Prediction!

If predicting the future is challenging, then predicting the future implications of general purpose technology is nearly impossible.

We’re going to try anyways.

However, getting all the details right is not the goal. Instead, the exercise of trying to predict the future opens your mind to new and potentially interesting ideas.

I can see a long-term future that looks something like this…
We’re heading towards a more decentralized world. Blockchain (or the future evolution) and cryptocurrencies will be used by most businesses, most people, and, eventually, most governments.
This technology (decentralized consensus) will underlie many of our future systems as we’ve created a fundamentally new way to establish trust globally, leading to great leaps in our social scalability.
Technology by its nature is morally neutral, which means blockchain has the tremendous power to both help and hurt our future society. Hopefully when the dust settles, this revolution leads to a less violent, more free, open world.
Predicting on a shorter timescale (let’s say by 2020) presents unique challenges. The shorter we make our timescale, the harder it becomes to predict the future state. Short term, we’re exposed to temporary risks that will not necessarily matter in the inevitable long term, such as temporary technology setbacks, geo-political events, risks of individual leaders, etc.

In this article we’re going to examine the future on a short-term basis, and predict which projects will be in the top 10 by market cap in 2020.

Predicting Market Dominance by 2020
I’m going to stack rank the top 10, but don’t get hung up with the order. Let’s not waste time debating the relative position of any project on this list.
Without future ado, here are my predictions for the top 10 projects by market cap in 2020:

1)Bitcoin (BTC)
2)NEO
3)EOS.io (EOS)
4)Ethereum (ETH)
5)Litecoin (LTC)
6)Stellar Lumens (XLM)
7)WaltonChain (WTC)
8)tZERO (TZRO)
9)Ripple (XRP)
10)QASH

#1 Bitcoin (BTC)

Bitcoin will have the largest market cap by 2020 but will continue to lose market dominance. Historically, Bitcoin has slowly lost market dominance since 2013.
What will drive BTC’s value? Institutional money, increased adoption driven by Lightning Network, its position as the global crypto reserve currency, and a potential global financial crisis.
The Inevitable Flood of Institutional Money Is Not A Matter of “If,” It’s A Matter of “When”
The CBOE is pushing the SEC to re-evaluate the Bitcoin ETF proposal. Big-name traditional investors such as George Soros have started investing in crypto.
On April 12, $250 million of BTC was purchased over a 1-hour period. Institutional investors are smart and would almost certainly wait for a pull back before purchasing. With BTC reaching at a 70% discount from ATH, could this be the start of the flood?

The Bitcoin Lightning Network Beta Is Live On The Mainnet
It’s growing steadily but nowhere near ready for mainstream adoption. However, after another 2 years of development, Lightning Network will add immense value to the Bitcoin ecosystem. We could see mainstream applications (lApps) being launched on Lightning, major online retailers accepting Lightning payments, and a variety of micro-payment solutions being realized.

A Global Financial Crisis Leads To An Increase In Bitcoin Value
The ratio of debt to GDP has increased in all advanced economies since 2007. You would hope we’d learn our lesson from the 2008 financial crisis, but in fact the opposite is true.
Are we headed for another global financial crisis? All signs point to yes, although predicting the timing is notoriously difficult. Global financial troubles will accelerate the transition to a crypto future and Bitcoin will absorb the highest percentage of capital.
Even if we don’t see a global financial crisis by 2020, we will see continued capital flight from countries with unstable fiat currencies into a more sound money (bitcoin). We’ve already seen this play out with Argentina, Venezuela, and Cyprus. China is concerned with capital flight risks leading to heavy-handed regulations on the crypto economy.

What About Bitcoin Cash?
In a Darwinian sense, I support alternative currencies competing for dominance. Bitcoin and Bitcoin Cash are pursuing different strategies in regards to scaling. Over time we will see which solution (maybe both?) has merit.

BCH has potential to win the merchant payment space, however over time I believe Lightning Network will dominate. Long-term, the Bitcoin Cash “big block” strategy is not the best solution to maintain decentralized and censorship resistant.
For these reasons, I foresee Bitcoin Cash continuing to lose relative market cap and sliding out of the top 10.

#2 NEO
Revolutionary technology takes a long time to build and we’re largely still in the infrastructure phase. This means 95% of current applications will fail. We first need to build the foundational infrastructure in order for future applications to succeed.
Platforms will continue to gobble up the majority of the value for years to come which is why investing in platforms is one of the most obvious crypto trends for 2018.
This sentiment is loud and clear with my top 10 list. No “dapps” here, folks. Instead, everything on the list could be considered as infrastructure (Bitcoin and Litecoin included).

NEO Will Be The Leading Platform In Two Years
There are many reasons to like NEO. They have a devoted community, A layer-2 scaling solution (Trinity) is being built, many upcoming ICOs will add to the already robust ecosystem, and NEO is cozy with the Chinese government.
NEO is unapologetically staying centralized (and censorable) for the near future until the ecosystem is mature enough to release into the wild. While I (and many others) disagree with NEO’s stance, it is the China way, and it’s undeniable that centralization is more efficient in some instances.
We could see geopolitical tensions between the US and China heat up which may incent China to go all in on crypto. What does a state-sponsored crypto future look like in China? No one really knows, but the NEO ecosystem is prepared to be the major public infrastructure. Sure, we might see a “CrypoYuan” being created, but I that will only add value to NEO.

#3 EOS.io (EOS)
EOS will become the #1 operating system for enterprise applications in the west.
If we’re going to see a decentralized Uber, Facebook, or Twitter—they’re going to be built on EOS.
Outside of China, EOS will handle the lion’s share of the enterprise scale applications in the west leading to a massive increase in value. EOS is a high performance blockchain capable of scaling to handle enterprise-level volume. This scalability is achieved both through the consensus algorithm Delegated Proof of Stake (DPoS) and by utilizing theoretically infinite parallel chains.
EOS also offers developers on Ethereum the ability to copy and paste their projects onto the EOS network. This will make it very easy for Ethereum projects to switch EOS.
The future is bright for EOS. By mid-2018, their mainnet will launch with a massive scalability advantage, a well-funded rockstar team, and the ability to port projects from ETH onto EOS.
Not to mention, EOS owns over a billion dollars’ worth of ETH tokens. They can dump these on the market whenever they choose, dropping the price of ETH and hurting confidence in this fickle market.


ICO of the week:
Vanywhere.com:
Working product – ✅
Major player involved – ✅
Experienced team – ✅
Active community and social channels – ✅
Potential of mass adoption – ✅


#4 Ethereum (ETH)
ETH will maintain relevance but will lose market share to EOS.
Ethereum is in a very challenging position. ICOs are being cracked down, the future of scaling is unknown, and “blockchain 3.0” projects like EOS are nipping at their heels.

Ethereum still has a massive lead over all other platforms in terms of network effect. But alliances can change quickly as the Ethereum network is not capable of handling the transaction load needed to run dapps. If you’re a developer, you can either wait for Ethereum to (hopefully) improve on scalability or you can jump to EOS where your application can perform as needed.
I’ll be watching the race unfold: Can Ethereum improve on scalability before EOS and other platforms take too much market share?

#5 Litecoin (LTC)
Wherever Bitcoin goes, little brother Litecoin follows.
I’m confident Litecoin will maintain market dominance due to inherit synergies (shared code) with Bitcoin, the network effect, and the compelling story of Litecoin being the silver to Bitcoin’s gold.

It’s generally agreed that Bitcoin alone cannot serve as a the global payment network. This makes an easy case for Litecoin to share the network load. Litecoin will be completely interchangeable with Bitcoin via atomic swaps on the Lightning Network.

#6 Stellar Lumens (XLM)
XLM will become the top platform for enterprise-level payment infrastructure.
Payments and banking infrastructure are an obvious use case for cryptocurrency. In this space, there are currently 2 main players: Ripple (XRP) and Stellar Lumens (XLM). At the time of writing, XRP has over 5x the market cap of XLM.

By 2020, I predict this to be the inverse. XRP will maintain its dominance in the big bank settlement space, but everything else will go to XLM.

Here are some areas where I see XLM winning market share:
* Banking the unbanked (OMG is a contender here)
* Remittance payments (a $500b industry ripe for the taking)
* ICOs on Stellar (We’ve already seen Mobius, Kin, and Smartlands move to Stellar)
* Cross-border payments (not including the big banks)
* Stellar as a platform for decentralized exchanges such as SDEX
* Stellar implementing the Lightning Network (potential atomic swaps with BTC/LTC)

The use case for a payment network platform like Stellar is crystal clear. If Stellar can continue to innovate and build out its ecosystem, it will slowly but surely exceed Ripple in market cap by 2020.

#7 WaltonChain (WTC)
WTC will become the go-to platform for enterprise-level IoT.
One of the most obvious use cases for blockchain is supply chain management. VeChain is currently leading this space in terms of market share, but WaltonChain will dominate the space in the long run.

WaltonChain is much more ambitious than “another supply chain coin.” They are striving to create an all-inclusive, decentralized, enterprise-level IoT solution.
WaltonChain solves the problem of how to incorporate physical assets onto the blockchain automatically with tiny chips. Through patented RFID technology, WTC can manufacture and insert their chips into pretty much anything. Combining hardware and software makes WTC more durable than other blockchain projects.

WaltonChain is starting with a few specific “no-brainer” industries as a proof of concept before going into full-on production mode. However, they’ve already shown massive efficiency gains in the retail space. So far, WTC has announced “child chain” projects to manage shipping and logistics for a port in China, smart agriculture in China, power a smart city in Korea, among others.

I won’t be surprised if WTC partners with Samsung, Alibaba, or another titan of industry.
WTC has one of the longest roadmaps you will find and won’t be fully operational for mainstream applications until 2020, just in time for this arbitrary deadline we created for this article. Coincidence? I think not.

#8 tZERO (TZRO)
tZERO will become the NYSE of digital assets.
The case for tokenizing all financial securities (stocks, bonds) and many real-world assets (real estate, art) is becoming quite clear. Tokenized securities provide several benefits over traditional financial products such as efficiency gains leading to decreased fees, reduced risk of financial manipulation, and increased access to investors since anyone with an internet connection can participate.You thought the ICO boom of 2017 was big? Just wait until traditional companies start tokenizing their assets.

tZERO will become the New York Stock Exchange of Crypto making for a very valuable token by 2020.

The tZERO token will pay 10% of adjusted gross revenue to token holders on a quarterly basis, subject to board approval and the conditions precedent (or substitute requirements) outlined in the offering memorandum. This promotes price stability by encouraging token holders to temporarily lock up tokens in order to receive.

The tZERO platform is directly targeting Wall Street profits which is very ambitious. Luckily they have the team to pull it off.
A few notable team members include:
* Patrick Bryne – CEO of Overstock
* Joe Cammarata – Pioneered NASDAQ market orders and the first off-exchange electronic trading system
* Brock Pierce (advisor) – Chairman Bitcoin Foundation, Founder of EOS,
* Anthony Di Lorio (advisor) – Co-founded Ethereum, CEO of Jaxx
* Peter Diamandis (advisor) – chairman of X Prize Foundation, Co-founder of Singularity *University, NY Times bestselling author

Given the enormous potential market size and the obvious benefits for both issuers and investors, if tZERO wins the tokenized securities space, they will be massive.

#9 Ripple (XRP)

XRP will dominate the institutional banking infrastructure.
Much of the crypto community dislikes the ethos of Ripple (myself included) — however, just because the purists hate something, doesn’t mean it will go away. In fact, the opposite is true as Ripple might partner with Western Union and they may even replace the SWIFT network.

I believe XLM will win the remittance market in the long run; however both Western Union and Moneygram are currently considering using XRP.

#10 QASH
QASH will be the leading platform for both retail and institutional investors trading crypto.
While we have seen a meteoric rise of the centralized exchanges such as Binance, the exchange landscape will change dramatically by 2020.
* Fiat gateways will be increasingly more prolific
* Institutional investors will be trading crypto
* Decentralized exchanges will be usable for retail investors
Right in the middle of this transition is a massively undervalued project, QASH.

By 2020, QASH’s LIQUID platform could be the leading platform for both retail and institutional investors looking to trade crypto. This is an ambitious goal, but they’re positioned well and they have the team to pull it off. Let’s take a look under the hood.
Their main offering is the LIQUID platform which aggregates all major exchanges into a single trading platform, combined with financial services such as prime brokerage.

A key feature of the LIQUID exchange is The World Book which will aggregate all major exchanges in the world into a unified trading platform. If this is done right, LIQUID will provide a single massive order book where users can trade the entire crypto market and get in and out of local fiat currencies.

This includes emerging fiat currencies from African and SE Asian nations which currently do not have fiat-crypto gateways. By allowing these new markets to easily acquire cryptocurrencies, we’ll see an increase in global liquidity.

Imagine a world where no one will have to send BTC/ETH from exchange to exchange in order to trade alts.
Institutional money will never use decentralized exchanges. I’m certainly in favour of using decentralized exchanges to mitigate the custodial risks of centralized exchanges. But do you really think Goldman Sachs traders are going to be fiddling around with EtherDelta?
Banks are under regulatory pressure which forces them to work exclusively with licensed businesses that follow all AML/KYC requirements. The QASH team has a deep history in the fintech space and will have the necessary banking licenses.

Lastly, the LIQUID platform is suited to handle banking-level order management and matching systems by processing millions of orders per second.
QASH is more than just an exchange.They are creating their own blockchain allowing developers to create applications leveraging the QASH token. The team also mentioned there will be some element of PoS paying dividends to holders.
If the team at QASH can pull it off, there is no doubt that they will be a top 10 project by 2020.

Final Thoughts
By 2020, BTC and LTC will dominate the pure currency market with the help of the Lightning Network. NEO and EOS will surpass ETH in the platform space, billion-dollar enterprises will trust their supply chain data on the blockchain, and institutional money will flow into crypto via trading both digital assets and tokenized securities.

That being said, anytime you’re dealing with the future there’s a distinct possibility of being completely wrong. I wouldn’t be surprised if one or more of these projects fails or a new player emerges that changes the landscape entirely.

In other words, this is not financial advice and you shouldn’t bet the farm based on some internet guy’s ideas about the future.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Brandon Quittem
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